Wilmington, Delaware, United States, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global wearable breast pumps market was estimated at a value of US$ 554.5 million in 2022. It is anticipated to register a 8.2% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 1.2 billion by 2032.
The market for wearable breast pumps is mostly driven by the growing emphasis on empowering women and the need for more adaptable and practical breastfeeding options. Growing awareness of the value of assisting working women in juggling their home and professional lives is a result of changing social standards. Wearable breast pumps provide a discrete and portable substitute for conventional breast pumps, enabling women to express milk while on the go and enabling them to fulfill their work obligations while providing for their infants' nutritional needs.
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Key Findings of Market Report
- Ideal clients are working women because they have more disposable income and less time for breastfeeding.
- During the projection period, it is anticipated that rising female employment and social programs supporting working mothers will propel product demand.
- Mothers are realizing the worth and significance of breastfeeding more and more.
- Due to the rise in global literacy rates, people are regularly embracing advanced medical breakthroughs.
- In countries with deep cultural legacies, like China, India, and Africa, buyers also consult with other family members when making the decision to purchase a breast pump.
- The economic growth of these nations is increasing, which is probably going to encourage product adoption.
Market Trends For Wearable Breast Pumps
- Battery-powered technology, which represented more than 48% of total sales, dominates the market. The segment's growth is being driven by factors such as the rise in employment of women, more awareness of the availability of technically complex equipment, and improved healthcare systems in emerging economies. Battery-operated gadgets need less time and effort to use, are portable, and may be used in confined spaces.
- For moms who need to pump regularly but don't want to use manual pumps, they work well. Since this new technology is gaining traction among working women and contributing to the sector's growth, market participants are heavily spending on research and development to produce lighter and smaller battery-operated products.
Global Market for Wearable Breast Pumps: Regional Outlook
Various reasons are propelling the growth of the wearable breast pumps market throughout the region. These are:
- The United States held the majority of the global market, accounting for over 52% of the market. A working woman may take a leave of absence to express breast milk for her child in accordance with the Employment Standards Act of 2000 and the Fair Labor Standards Act of 1938, among other restrictions. It is anticipated that this will propel the United States market.
- Reimbursement for breast pumps is governed by legislation issued by regulatory authorities in the nation. The main causes of its dominance include rising product awareness, a rise in the proportion of working women, and high spending income. In the United States, 57.4% of all women were employed in 2019, up from 57.1% in 2018, according to the Bureau of Labor Statistics.
- Several public and commercial companies also offer medical insurance for these devices. For instance, Medela offers insurance for the manufacture of their breast pump and accessories. For extended durations, Medela also rents out hospital-quality breast pumps to moms who are unable to purchase new pumps.
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Global Wearable Breast Pumps Market: Key Players
In the global market for wearable breast pumps, companies are concentrating on creating wearable pump solutions for nursing moms that are novel, discreet, and easy to use. Through the integration of characteristics like portability, smooth operation, and smartphone connectivity, these devices seek to give moms the freedom to express breast milk conveniently.
Companies are also spending money on research and development to improve the comfort, usability, and efficiency of their products. This is done to make sure that wearable breast pumps satisfy the changing needs of contemporary, active moms who are looking for discrete and effective breastfeeding solutions.
The following companies are well-known participants in the global wearable breast pumps market:
- Medela AG,
- Ameda, Inc.,
- Willow Innovations, Inc.,
- Philips,
- Elvie,
- Freemie,
- BabyBuddha Products, LLC,
- Spectra,
- iAPOY,
- Lavie Mom
Few of key developments by the players in this market are:
- For the launch of cutting-edge wearable breast pumps, Willow secured over US$ 55 million in Series C funding in September 2020 from investors NEA, Meritech Capital Partners, and others.
- A company that develops parenting and healthcare apps, Health & Parenting Ltd., was recently bought by Philips. The company's digital parenting platform, uGrow, benefited from this acquisition.
Global Wearable Breast Pumps Market Segmentation
By Technology
- Smart Wearable
- Manual
- Battery-operated
By Component
- Wearable Pumps
- Accessories
Region
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East & Africa
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